Insider Selling: William Raymond Wagner Sells 5,006 Shares of LogMeIn Stock (LOGM)
LogMeIn (NASDAQ:LOGM) COO William Raymond Wagner sold 5,006 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $44.49, for a total value of $222,716.94. Following the completion of the transaction, the chief operating officer now directly owns 10,014 shares in the company, valued at approximately $445,523. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of LogMeIn (NASDAQ:LOGM) traded up 1.31% during mid-day trading on Friday, hitting $45.77. 288,719 shares of the company’s stock traded hands. LogMeIn has a 52 week low of $23.72 and a 52 week high of $47.69. The stock’s 50-day moving average is $42.49 and its 200-day moving average is $38.87. The company’s market cap is $1.111 billion.
LogMeIn (NASDAQ:LOGM) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. The company had revenue of $49.00 million for the quarter, compared to the consensus estimate of $47.06 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. On average, analysts predict that LogMeIn will post $1.00 earnings per share for the current fiscal year.
A number of research firms have recently commented on LOGM. Analysts at Barclays raised their price target on shares of LogMeIn from $39.00 to $45.00 in a research note on Wednesday, April 30th. They now have an “equal weight” rating on the stock. Separately, analysts at Needham & Company LLC raised their price target on shares of LogMeIn from $48.00 to $55.00 in a research note on Wednesday, April 30th. They now have a “buy” rating on the stock. Finally, analysts at Maxim Group raised their price target on shares of LogMeIn from $45.00 to $48.00 in a research note on Thursday, April 17th. They now have a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $44.40.
LogMeIn, Inc (NASDAQ:LOGM) provides essential cloud-based collaboration, information technology (IT) management and customer service offerings aimed at addressing the evolving multi-device, security, management and accessibility requirements of the new mobile workplace.
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